Manhattan Associates (NASDAQ:MANH) Releases Earnings Results, Beats Estimates By $0.29 EPS

Manhattan Associates (NASDAQ:MANH) released its quarterly earnings results on Tuesday. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29, Briefing.com reports. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the prior year, the firm posted $0.79 EPS. Manhattan Associates’s quarterly revenue was up 11.9% compared to the same quarter last year. Manhattan Associates updated its FY24 guidance to $4.60-4.62 EPS and its FY 2024 guidance to 4.600-4.620 EPS.

Manhattan Associates Price Performance

NASDAQ MANH opened at $271.36 on Thursday. Manhattan Associates has a 1 year low of $182.97 and a 1 year high of $307.50. The company has a market capitalization of $16.71 billion, a PE ratio of 88.68 and a beta of 1.50. The company has a fifty day moving average of $274.18 and a 200 day moving average of $246.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Raymond James raised their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial boosted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.38.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.